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Moscow: Cash payment ban could see property prices rise

Posted on 14 June 2012

A proposal by the Finance Ministry to ban cash payments for sums over 600,000 rubles could lead to price hikes, with residential real estate the most likely to be affected. The ministry’s proposal, which was published on its site, would include not only transactions between individuals and businesses, but would also include deals between two private parties.
The proposal’s explanatory note says the measures are aimed at real estate and car purchases in order to lower their “levels of criminality.” The ministry’s earlier proposal was to only target deals involving companies, Vedomosti reported on Wednesday………………………………………..Full Article: Source


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